The Evaluation of the Cultural Industries Impacts on the Local Economies: The Teatro Massimo Foundation

Abstract

Thanks to its relevant positive effects, the cultural industry, including the Opera Houses, is becoming increasingly important for economic and social well-being. On the other hand, given their cultural relevance and the high costs, these activities require the support of public funds. This evidence generates the need to quantify the economic benefits deriving from its activities to evaluate the opportunity and the return of the public financial support. The study analyses the case of the Fondazione Teatro Massimo di Palermo offering an estimate of the economic, occupational, and fiscal impact on the municipal, provincial, regional, and national territories. The results show how the Opera House becomes, through its institutional and collateral activities, a distribution centre, an accelerator of economies able to support a complex and widespread network of productive and employment relations. Finally, the public financial support generates a retroactive effect on the tax system, recovering the initial contribution, even if only in part.